Official website shows that Dong 'e Ejiao Co., Ltd. is not a state-owned enterprise, but a subsidiary of China Resources Group, a central enterprise. The company, formerly known as Shandong Dong 'e Ejiao Factory, was established in 1952 and 1993. It was transformed from a state-owned enterprise into a joint-stock enterprise and listed on the Shenzhen Stock Exchange in July, 1996.